Continuing Professional Development

Effective from January 2014, all SID members are required to commit to Continuing Professional Development (CPD) so that they are properly equipped with the right knowledge, skills and competencies to undertake their director responsibilities. The CPD policy is similar to that of SID’s peer organisations around the world.
The following FAQ addresses common questions on the policy:

What are the objectives of CPD?

The main objectives for the CPD requirements for SID members are:

To ensure that SID members are able to demonstrate an adequate level of professional knowledge and skill in performing their duties competently and professionally;

To help SID members respond to issues such as changing regulatory expectations, technological developments, evolving responsibilities and economic conditions; and

To demonstrate to relevant stakeholders that SID and its members hold the public interest in the highest regard by ensuring that directors acquire adequate knowledge and skills to fully discharge their responsibilities.

Who must comply with the CPD requirements?

The CPD programme is mandatory for all SID Ordinary Members and Fellows.
The CPD requirements do not apply to Associate Members, Honorary Fellows or
Corporate Members.

What are the CPD requirements for SID members?

SID members covered by the CPD requirements must attain a minimum of 60 CPD hours over a three-year period.
At least 24 hours must be verifiable (structured) CPD hours during the same three-year period. It is the responsibility of Ordinary Members and Fellows to maintain their CPD records and ensure they keep these updated with SID.

How are CPD hours recorded?

It is the responsibility of Ordinary Members and Fellows to maintain their own CPD records and ensure they keep these updated with SID. In due course, SID will be introducing a self-declaration form which members can use to keep accurate records.
Certificates or letters of attendance are issued to members who attend courses, seminars, workshops or conferences organised by SID. For other courses, evidence can be in the form of certificates, receipts, attendance lists and letters from the organisers or company secretaries.

When will the CPD requirement become mandatory for SID members?

The CPD programme became effective as of 1 January 2014.
Current Ordinary Members and Fellows will have a 3-year period, from 1 January 2014 until 31 December 2016, to meet the CPD requirement for 60 CPD hours, including at least 24 verifiable CPD hours.

What is considered the CPD calendar year?

A CPD year is the calendar year running from 1 January to 31 December. The CPD year will begin in the first full year following a member’s admission as an Ordinary Member or Fellow of the SID.

What happens to the CPD requirement if I join SID as a member midway through the year?

The 3-year cycle for new Ordinary Members and Fellows will begin in the year following their admission.
For example, a new Ordinary Member admitted in say, June 2015, will be required to attain 60 CPD hours in the 3-year period from 1 January 2016 to 31 December 2018.

What happens if I am admitted as a Fellow during the year?

Ordinary Members who are subsequently admitted as fellows will follow their existing three year cycle. There will be no changes to the CPD requirement for that period of membership.

When do members need to confirm that they have met the CPD requirements?

From 1 January 2017, existing Ordinary Members and Fellows, as at 1 January 2014, will be required to confirm that they have attained their requisite CPD hours when they renew their membership with SID.

What if the CPD requirement is not met?

Ordinary Members and Fellows who do not meet the stipulated CPD requirements may face suspension of their membership. Continued default in relation to the requirements may result in the individual membership being terminated.

Can members inform SID of their CPD activity immediately after attendance at each CPD learning/training event?

Currently the only requirement for disclosure to SID by members is the three-yearly confirmation, with appropriate evidence, that the 60 CPD hours have been achieved.
It is expected that Ordinary Members and Fellows take individual responsibility to maintain their own CPD records and ensure they keep these up to date. SID is exploring options to include an online CPD file for members on the SID website.

What type of learning/training can be used for the CPD requirement?

CPD hours will be awarded for learning/training activities undertaken to improve directors’ skills and capabilities.
There are two types of learning/training activities (refer to detailed answers below for more information):
1. Verifiable – formal or structured training courses.
2. Non-verifiable – informal or unstructured learning.

What is ‘Verifiable’ learning/training and how many CPD hours do I need to meet the requirement?

Verifiable learning/training refers to CPD activities that can be objectively verified by a competent source.
Verifiable learning/training could include:
• Attendance at formal courses or conferences either as an instructor, speaker or a participant; and
• The provision of educational and training services while serving on boards and committees where relevant material is prepared or reviewed by the member.
Certificates or letters of attendance are issued to members who attend courses, seminars, workshops or conferences organised by the SID. For courses which are not organised by the SID, evidence can be in the form of certificates, receipts, attendance lists, and letters from the organisers or corporate secretaries.
For each three-year CPD period, at least 24 hours of verifiable learning/training must be recorded in the individual members’ CPD records.

What is ‘Non-verifiable’ learning/training and how many CPD hours do I need to meet the requirement?

Non-verifiable learning/training refers to CPD activities where it is more difficult to provide clear evidence to corroborate the CPD hours members wish to claim. The learning activities should be current and contribute to increase the member’s skills and capability.
Non-verifiable learning/training could include informal activities such as:
• Self-study or research; and
• Reading technical, professional, financial or business literature such as ‘The Directors’ Bulletin’.
For each 3-year CPD period, at least 36 hours of non-verifiable learning/training must be recorded in the individual members’ CPD records.

Who offers Verifiable learning/training?

SID, and other professional bodies and providers, offer a wide spectrum of relevant courses and forums on corporate governance and related topics that would qualify as verifiable CPD learning.
SID will periodically identify training and activities conducted by SID and its partners as available for CPD and the number of hours associated with it.

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SID is the national association of company directors and promotes the professional development of directors and corporate leaders. The institute works closely with authorities, regulators and a network of members and professionals, such as accountants and lawyers, to identify ways to uphold and enhance the highest standards of corporate governance and ethical conduct in Singapore.